S. Dorj is 59 years old and lives with his wife and four adult children in the Arkhangai province in central Mongolia. His wife is retired and his youngest two children are university students. Since 2002, Dorj has operated a transportation business in his town and has gained much experience.
Dorj is very hardworking, and because of this, his businesses has been very successful. Dorj has used the profits from his business to improve his family's quality of life and send two of his children to college. His family has always worked together and grows vegetables at their home to supplement their income.
Dorj has proven to be a good businessman, but he is a “family man” first. He says, "My main goal is to provide for a good education for my children." He requests a 1,200,000 tugrug loan to restore and repair his old vehicle.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.